Convenience store chain operator Casey’s General Stores Inc. (Nasdaq: CASY) is buying Buchanan Energy, owner of Bucky’s Convenience Stores, for $580 million. The deal includes 94 retail stores mostly in Nebraska and Illinois, along with multiple real estate sites that can be used for the construction of new stores.
“We’ve been hard at work executing on our strategic vision to reinvent the guest experience; creating efficiencies to improve the shape of our business and to fund future growth, and accelerating our new store builds and acquisitions,” says Casey’s CEO Darren Rebelez. “Adding Bucky’s to the Casey’s family is aligned with our strategy.”
Goldman Sachs & Co. and Husch Blackwell are advising Casey’s. BofA Securities and McGrath North Mullin & Kratz PC are advising Buchanan.